Sharp decline.
(By Yann Quelenn)
• EUR/USD has broken support at 1.1725
(23/10/20107 low) which has triggered bearish
extension to strong support given at a distance
at 1.1613 (26/07/2017 low). Key resistance is
located at 1.1878 (12/10/2017 high). Expected to
show renewed short-term consolidation.
• In the longer term, the momentum is now
turning largely positive. We favour a continued
bullish bias. Key resistance is holding at 1.2252
(25/12/2014 high) while strong support lies at
1.0341 (03/01/2017 low).
